Cash application takes too long, costs too much, creates too many exceptions, and provides inadequate visibility. The root of the problem is the antiquated systems and processes that most receivables departments use to apply cash. Worse yet: the combination of diversifying payment and remittance channels, ever-increasing demands for remittance data capture, and the heightened audit and compliance risk of unapplied or improperly applied cash will exacerbate the problem for receivables departments that do not act soon. Paying a bank lockbox provider to capture remittance data is no panacea. And bolting-on an optical character recognition solution provides uneven results. The solution is to change the rules of cash application. During this webinar, the speakers will:
- Share exclusive IOFM data on the challenges and pain points of traditional cash application systems and processes
- Show how receivables departments can use emerging technologies and best practices to change the rules of cash application
- Detail how a fresh approach to cash application uniquely addresses the current and future challenges and pain points in receivables processing
- Provide a real-world example of a business that has benefited by changing the rules of cash application.
Mark BrousseauSpecial Projects Editor, IOFM
Mark Brousseau is a noted analyst, speaker, writer and marketer, with more than 21 years of experience in advising leading providers of financial operations solutions and services.
Brousseau is president of Brousseau & Associates, a full-service strategic marketing and business development consultancy with the largest client base of any firm of its kind. Brousseau & Associates counts among its clients many top solutions and services providers in the payables, receivables, payments, document management, and healthcare verticals.
Jon GageSenior Business Solutions Architect, Creditron
Jon has been in the payment processing space for 13 years and has been involved in implementing hundreds of payment automation solutions. He came to the industry with a background in software development, primarily focused on web-based technologies and real-time integrations. At Creditron Jon is largely responsible for hosting webinars and educational forums, facilitating software demonstrations and supporting customer engagements. Prior to joining Creditron Jon spent time with Maple Leaf Sports & Entertainment and Shred-It.
Continuing Education Units available:Receive 1 CEU toward IOFM/AR&O2C ARM, ARS, ARD, or O2C recertification!
The Accounts Receivable Certification Program is designed to establish standards for the profession and recognize accounts receivable professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the accounts receivable body of knowledge.
This webinar is provided free of charge and underwritten by a sponsor. Following the webinar, you may be contacted by the sponsor with information about their products and services.
Continuing Education Credits available:
Receive 1 CEU towards IOFM programs:
Receive 1 CEU towards maintaining any AR and O2C related program through IOFM! These programs are designed to establish standards for the profession and recognize accounts payable and procure-to-pay professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the financial operations body of knowledge.